|BAWAG PSK||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||NO MINIMUM||5/7 DAYS||3.1%||€1.134|
|EUR € - to GBP||NO MINIMUM||5/7 DAYS||3.1%||£0.828|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||From £100||From 1 DAY||From 0.7%||€1.162|
|EUR € - to GBP||From £100||From 1 DAY||From 0.7%||£0.848|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using Bawag PSK services, the exchange rates shown are typical. All banks have individual rates and commission structures for international currency transfers. Find the latest exchange rates for an overseas bank using our Bank Rate Comparison below:
Save on the exchange rate conversion when transferring money overseas from your Bawag PSK bank account in euros, UK pounds and other currencies. Bawag PSK international money transfers to or from Austria have higher transaction charges, due to a less competitive exchange rate offered by Bawag PSK. Skip to: Austria Money Transfer Specialists
Typically, sending funds to or from your Bawag PSK bank account in euro, UK pounds or US dollar overseas bank account will involve a margin rate of 3.1% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your Bawag PSK bank account in Austria needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 100,000 euros (EUR) using Bawag PSK services would have a transaction exchange rate margin of around 3.1% – or 3,100 EUR. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only 700 EUR in total, which is a large saving over the bank service.
International money transfers from Bawag PSK could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Bawag PSK bank account holder to use their services. Bawag PSK may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of 5000 euro.
Unless you pay a premium, Bawag PSK’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Bawag PSK is a postal savings bank owned by the Austrian Mail service. It was founded in 1883 and is now one of Austria’s largest banks with about 2 million customers. Bawag PSK has over 500 local banking branches and customers can also get banking services at over 1,300 post offices across Austria. Bawag PSK is 52% owned by Cerberus Capital Management LP and 40% by GoldenTree Asset Management LP.